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of washington, i have never been more hopeful about our future. >> president obama accepts another term and once again promises america change. good afternoon, i'm frank mallicoat. as the president wins another four years in the white house, wall street is reacting not in a good way either. the dow is tanking today. jason brooks with kcbs and cbsmoneywatch.com joins us now and is it all politics or is business at play as well, jason? >> reporter: we have a number of issues sinking the stock market today. it's one of the worst days for the market in 2012. there are election issues at play, as well. we have sectors that are under pressure from regulatory concerns, namely financial, also energy. but then i have healthcare sector doing well since romney won't be able to invalidate obamacare. there is the looming fiscal crisis and the partisanship that's prevailing up until this election, worries that congress and the white house won't be able to solve that looming fiscal crisis. but another big issue really sinking the market today is europe. we have a downgrade from the european union on growth pro
. maine, maryland and washington will decide if same-sex marriage should be legal. minnesota voters will decide if it should be outlawed all together in their state constitution. voters in washington, oregon and colorado may decide to legalize marijuana today. >>> here in california, no issue has drawn more cash or controversy than proposition 30. that ballot question would raise taxes to prevent education budget cuts and cbs 5 reporter cate caugiran joins us with more on this costly battle. >> reporter: listen to these numbers. yes on 30 campaign raised about $69 million and the no on 30 has raised about $53 million. as you mentioned, the idea behind proposition 30 is to raise taxes to prevent these education cuts but those against it say the big price tag comes with a big risk. >> the big issue, the big question is, what is the capacity of america to invest through its collective institution called our government? >> reporter: even on the way to vote governor brown took the time to stump for proposition 30. he is optimistic. >> i have a sense that people are ready to invest in the
nottingham is in washington, d.c. to explain why israel is not ruling out a ground assault. >> reporter: a wounded palestinian woman was rushed to the hospital this morning in gaza. civilians are getting caught in the crossfire as israel and hamas launch rockets at each other in an escalating conflict. israelis say they are targeting weapons facilities, launch sites and police stations in gaza. hamas says 24 civilians have been killed in less than 24 hours. damage is massive residential neighborhoods. police say one of at least 75 rockets landed overnight. no casualties were reported in israel. >> ordered the school to close and there are no children inside the building. >> reporter: israel is now moving troops near the border and has not ruled out a ground assault in gaza. president obama is warning israel that a further escalation may derail peace talks and a two-state solution. while traveling in asia the president also made clear that he will not second-guess the strategy of one of america's allies. >> there is no country on earth that would tolerate missiles raining down on its cit
of state hillary clinton to the region. and danielle nottingham is standing by in washington, d.c. to tell us who the secretary will be meeting with later today. danielle. >> reporter: frank, secretary clinton will be meeting with israeli prime minister benjamin netanyahu and then tomorrow she is supposed to sit down with egypt's president. and it's really important for secretary clinton to do her best to try to broker some kind of peace deal along with the rest of the international community. they are very concerned about the violence spilling into other areas of the region and we know right now it's very volatile there not only in what's happening in israel and in gaza but also in syria and egypt and in lebanon, frank. >> now, the u.s. government has a strong stand against hamas. so who will meet with the hamas leaders to broker the peace deal? >> reporter: that's egypt's president right now. mohamed morsi has been meeting with hamas. of course, the united states won't sit down with hamas leaders because they have not renounced terrorism. so that complicates the situation even further. b
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